Investments in funds - 28.5.2014
Armada Mezzanine Fund IV has held its first close of € 70 million reaching 70 % of its targeted fund size of € 100 million.
Strong support from existing investors with some first class new investors
Armada Mezzanine experienced strong support from its existing investors who contributed the majority of the first closing amount, along with a number of new investors.
Armada Mezzanine Fund IV has been backed by eight institutional investors, predominantly European pension funds, insurance companies and public organisations. Among others, investors include European Investment Fund, Finnish State Pension Fund, LocalTapiola General and Life, Finnish Industry Investment, Tradeka-Invest and Sonera Pension Fund.
Armada is well on track for its target fund size of €100 million. In order to reach the target Armada Mezzanine will continue its fundraising efforts to expand its investor base in Europe. The fund has a hard cap of €150 million.
Continuation of proven investment strategy
Armada Mezzanine Fund IV will continue the successful investment strategy of Armada Mezzanine Fund III and invest in all Nordic countries, typically in sponsored mezzanine, unitranche and other private debt transactions involving lower midmarket companies with attractive growth prospects, strong cash flow generation and proven business models. In addition to traditional sponsored transactions Armada Mezzanine will continue to seek investment opportunities in non-private equity backed transactions that meet the fund’s risk and return criteria.
The three partners of Armada Mezzanine Capital, Pertti Nurmio, Ilkka Santti and Jan Wiklund, commented: “We are happy to experience such a strong support from our existing investors of which some have been investing with us for almost 15 years. We have a very experienced team and we believe that the Nordic private debt market will continue to provide excellent investment opportunities during the investment period of Armada Mezzanine Fund IV.”
For more information, please contact:
Managing Partner Pertti Nurmio
Armada Mezzanine Capital Ltd
T: + 358 50 5502324
Armada Mezzanine Capital Oy is the leading independent local provider of financing for small and medium-sized companies and buyouts in the Nordic countries. Armada focuses on transactions with enterprise value of up to €150 million. Armada manages three mezzanine funds with a combined capital base of over €220 million and has offices in Helsinki and Stockholm. Investors comprise primarily Finnish institutional investors and EIF.´Armada’s preceding fund, Armada Mezzanine Fund III, amounts to €103 million and has made ten mezzanine and other private debt investments across all four Nordic countries.